Story by Todd Neeley, DTN Staff Reporter
LINCOLN, Neb. (DTN) — Despite the ongoing military conflict in Ukraine, the country’s farmers are expected to complete a majority of spring planting, the head of a major U.S. seed company said during an earnings call Thursday.
Dave Anderson, Corteva Agriscience executive vice president and chief financial officer, said the company is performing well in Europe, the Middle East and Africa, despite the war in Ukraine, which has created logistical constraints.
“Speaking of Ukraine, demand was strong in military-free areas for both crop protection and seeds,” Anderson said.
“Farmers continue to plant crops, and for local estimates, many expect more than 70% of Ukraine spring crops will be planted.”
Anderson said during the Corteva earnings call the company expects to lose $25 million and $75 million for exiting its Russia business. Russia represents about 2% of Corteva’s annual revenue.
Read more from our partners at DTN/Progressive Farmer here: https://www.mydtn.com/agriculture/web/ag/news/article/2022/05/05/corteva-cfo-says-ukrainian-farmers